Embattled Beximco Limited has announced another round of layoffs citing a lack of work orders, a decision that affects nearly 8,000 workers across five manufacturing units in its industrial park in Gazipur.
The government yesterday asked the banks that financed the embattled Beximco Group to submit information regarding the collateral kept by the group against the loans..The directive was given at a meeting among the secretaries of some ministries and senior officials of nine banks..At
The government is trying to find jobs for 40,000 laid-off workers of Beximco Group in factories within the Bangladesh Export Processing Zone Authority (Bepza) and the Bangladesh Export Zones Authority (Beza), a senior labour ministry official said.
The authorities of Beximco could not be reached for comment as they did not respond to phone calls.
It follows a directive from the finance ministry
The government has decided either to sell the ownership of a good number of Beximco Group companies or find entrepreneurs to lease these units out.
The group's inability to open new LCs has forced its factories to halt production
He also said that legal action would be taken against the S Alam Group chairman and other officials for their alleged crimes in the banking sector
The authorities have promised to clear the dues by November. But the workers have not agreed to wait till then
Indexes of the stock market in Bangladesh declined yesterday on rising the day before, largely due to the poor performance of Islami Bank Bangladesh along with the large-cap and blue-chip shares amid sales pressures..Large-cap refers to shares which account for large amounts in market capi
The Bangladesh Bank (BB) took three major decisions yesterday, including the appointment of a custodian, officially termed as a receiver, at troubled Beximco Group in order to prevent its fall and protect the interests of investors, employees and lenders.
In a bid to ensure tax compliance, the government has blocked the transfer of shares of seven corporate giants that thrived under the Awami League government.
The NBR instructed the RJSC to immediately block any sales or transfers of shares, whether through donations or otherwise
Beximco has sought support from the government to extend the repayment period of its liabilities to Janata Bank over the next 10 years, including a two-year moratorium.
Beximco Group laundered at least $135 million by exporting goods through 18 companies without repatriation of the export value, said the Criminal Investigation Department (CID) yesterday.
Beximco Pharmaceuticals’ profits in the January-March period of fiscal year (FY) 2023-24 grew by 51 percent from that in the same period of the previous fiscal year, owing to higher sales and efficient cost management.
Beximco Ltd is set to raise Tk 1,500 crore through the issuance of a zero-coupon bond
The Bangladesh Shipping Corporation (BSC) has appointed a board member nominated by Bangladesh Export Import Company Limited (Beximco).
Drug maker Renata Ltd has secured approval from the US Food and Drug Administration (USFDA) for its general facility in Rajendrapur.
